The growing digital economy and innovative technologies are making crypto popular. In the crypto space, we know the popular terms crypto coins and crypto tokens. But there are some people who got confused about whether they are developing crypto coins or crypto tokens.
Are both the same?.. No.. both are different and have various features too. Let's find out some points about them in detail.
Crypto Coins
- Should have own blockchain
- Expensive to create a coin
- Can create their own protocol
- Requires large communities to support and adopt them
- Requires significant resources and skills to create
- Eg. Ethereum
Crypto Tokens
- Created using the existing blockchain’s token standard
- Anyone can create a token
- Relatively easy to create
- Tokens may be issued during a crowdfunding process
- Cost and time effective
- Eg. security tokens, utility tokens
I Hope now you may be clear about the difference between crypto coins and crypto tokens.
While comparing these two, a lot of budding startups showed their interest in crypto token development. Because crypto tokens provide them with lots of advantages. Besides, startups can use crypto tokens for effective fundraising for their initial stage of business development or they can use them for trading to earn profits hugely.
The three main types of crypto tokens which are ruling the crypto industry are Utility tokens, security tokens, and non-fungible tokens
In fact, the use cases of crypto tokens via blockchain technology will continue to expand.
If you are an aspiring entrepreneur who has an interest in developing crypto tokens, then I would recommend you to connect with the Reputed Crypto Token Creation Service Provider. They will help you make crypto tokens on your desired token standards. Get connected with them to develop your token at an affordable cost.